How Important is an environment for making business strategies?
Environment plays an important role when it comes to making Business Growth Strategies. Let’s understand this by taking an example of a popular momo shop. A momo shopkeeper started selling momos nearby, where there were so many offices and working professionals.
Due to its location strategy, he is attracting a large number of working professionals during office lunch hours.
However, if the momo shop was located in a residential neighborhood area then it may not be possible to attract that much type of audience size and will not be able to increase its sales and generate more revenue.
Along with all this, That momo shop will not get attention due to its small audience size and will be unable to convert their local momo shop into the brand or a popular momo shop.
Business Growth Strategies can be divided into two phases, first is online business strategies and the one is offline business strategies.
These two phases depend on various factors such as location. targeting options, platform selection, and much more.
Online Strategies :
Online Business Growth Strategies are those strategies that focus on various kinds of digital platforms and the latest trends that can help to expand your business more effectively and efficiently. This type of strategy mostly focuses on getting your business discovered on search engines like Google and different social media platforms like Facebook, Instagram, etc. You can make a strategy on the below-listed factors :
Location: While making a Business Growth Strategy you should consider the location first because it’s important for the business, in which it is operating. So when you are making a location-based strategy then you should consider the environment of your business. As we have discussed in the above example i.e. a popular
momo shop.
Audience: By selecting the audience that lies in your industry niche, will be fruitful for your business. For example, in the above matter (i.e. A popular momos shop) if that was located in a residential area other than a busy area then it will face some difficulty or will not be able to rise up.
Platform: Choosing the right platform for your business is a crucial point. For instance, if your business type is of instant or urgent queries base then you should go with Google ads because it provides user queries solution on an instant basis (i.e.- Doctors ads, Loan and Property ads, etc ). On the other hand, if you want your business to work on an interest basis then you should go with Facebook or Instagram ads, as these platforms show your ads on a user’s interest basis (i.e. – Gym centers, teaching classes, etc.).
Amazon Marketing Strategy:
Push marketing v/s Pull marketing
Push Marketing: Push marketing is the process of aggressively pushing a good or service to a particular target market. This strategy uses techniques including direct marketing, email advertising, and tailored recommendations.
Using targeted adverts, email promotions, and recommendation algorithms, Amazon, a leading example of push marketing, pushes products to users based on their browsing and purchasing history. Amazon effectively boosts sales and encourages repeat purchases by monitoring customer behavior.
Pull Marketing: Pull marketing seeks to draw clients by spreading knowledge and stoking enthusiasm for a good or service. It makes use of tactics
including social media interaction, content marketing, and search engine optimization (SEO). For instance, the momos shop can use social media to
attract clients by posting tempting pictures and interesting articles about their momos.
Conclusion
Digital marketing is the best choice for businesses looking to expand their reach and increase revenue. With a variety of channels to choose from and the ability to personalize campaigns, businesses can reach a wider audience and generate better ROI.
By following the steps outlined in this article and avoiding common mistakes, businesses can develop a successful digital marketing strategy that delivers results.
